PRESS DIGEST - Wall Street Journal - April 15

April 15 (Reuters) - The following were the top stories in
The Wall Street Journal on Tuesday. Reuters has not verified
these stories and does not vouch for their accuracy.

* Delta Air Lines Inc (DAL.N: Cotización) and Northwest Airlines Corp's
NWA.N boards approved a merger that would create the world's
largest airline by traffic if the deal wins over regulators and
employees. The combined carrier would keep Delta's name and
Atlanta headquarters.

* Russian oil production has begun to stagnate and even
slump, adding to market uncertainties that have helped push oil
prices to record highs.

* Brazil's Petrobras (PETR4.SA: Cotización) appeared to have made a
major offshore oil strike, a discovery that could turn the
country into a big oil exporter.

* Mixing austerity and tax cuts, Senator John McCain will
lay out an economic plan that includes increased Medicare
premiums for wealthy seniors and a one-year freeze on spending
along with a proposal to review a vast swath of federal
programs.

* Reflecting the stunning speed with which a funding crisis
engulfed Bear Stearns Cos BSC.N, the Wall Street firm
reported a profit of 86 cents a share for its fiscal first
quarter, which ended just weeks before it agreed to be sold to
J.P. Morgan Chase & Co (JPM.N: Cotización) for $10 a share.

* Chrysler LLC [CBS.UL] and Nissan Motor Co Ltd (7201.T: Cotización)
announced they will join forces to produce full-size pickup
trucks for the U.S. market and small cars for North America,
Europe and other markets, a development many in the auto
industry expected after the two had confirmed talks earlier
this year.

* The performance of government-sponsored enterprises like
Fannie Mae FNM.N and Freddie Mac FRE.N could have a direct
impact on the national economy and, more importantly, U.S.
credit standing.

* Wachovia Corp's WB.N announcement that it is raising
about $7 billion in capital, slashing its dividend by 41
percent and logging a loss of $393 million in the first quarter
left many investors angry -- Chief Executive Officer, Kennedy
Thompson feeling buyer's remorse over the $25 billion takeover
of Golden West Financial Corp in 2006.
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